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Jan 8, 2013
01/13
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united states. >> is there really no other way? >> [inaudible] argues that, steve argues that there is an inability for servicers to write down principal on private label securitized loans. absolutely false. in fact, writing down a principal -- not just principal forbearance, but actually principal forgiveness -- has been increasing over time on securitized loans. he may be confusing that with gse loans. there is no ability of a servicer of a fannie or freddy loan to actually write down. so there is a very biggies 2006 there. second, he says that we, mrp, can't figure out a way to get these loans out. well, it's because mrp doesn't actually own the loans. what they're proposing at the core of its proposal is mrp wants to take loans from somebody else. that, in essence, is what eminent domain is all about. the person doesn't want to sell you those loans, so you go can and you take them. you grab them without that person's consent. we'll come back to the legal issues involved in that, i'm sure, throug
united states. >> is there really no other way? >> [inaudible] argues that, steve argues that there is an inability for servicers to write down principal on private label securitized loans. absolutely false. in fact, writing down a principal -- not just principal forbearance, but actually principal forgiveness -- has been increasing over time on securitized loans. he may be confusing that with gse loans. there is no ability of a servicer of a fannie or freddy loan to actually write...
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Jan 10, 2013
01/13
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unit costs are going to go up. and not to mention it's going to cause all sorts of contract modifications and renegotiations, it's going to create a backlog of contracting work and back to the first point, the civilian workers at dod who process those contract modifications, they're going to be furloughs for one month at some point in the remainder of the fiscal year. so this is going to be a contracting nightmare for dod. >> an important point here. you're basically verifying what the pentagon has been saying on the 800,000 employees. when this first came out -- [inaudible] a week ago, they waxed and waned. it was, oh, it wouldn't be all. all would be notified, but only some would be furloughed and then george little kind of said, no, all would be furloughed. you're basically verifying it's not a horror story, they're not crying wolf here. basically, all -- [inaudible] at some point in the year would be furloughed if this played out. >> yeah. using my back of the envelope calculations, i can verify that. it is vir
unit costs are going to go up. and not to mention it's going to cause all sorts of contract modifications and renegotiations, it's going to create a backlog of contracting work and back to the first point, the civilian workers at dod who process those contract modifications, they're going to be furloughs for one month at some point in the remainder of the fiscal year. so this is going to be a contracting nightmare for dod. >> an important point here. you're basically verifying what the...
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Jan 18, 2013
01/13
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the kind of immunity that essentially no other product manufacturer in the united states enjoys. they didn't provide people that were harmed with any kind of alternative compensation scheme and they even said that there but retroactively applied to the pending lawsuits that had to be dismissed and in fact they were and as a result the public health function of lawsuits and litigation in general, something that steve taught us about for many years was eroded. there were some relatively narrow exceptions to the plcaa that allowed the lawsuits to proceed nevertheless. and new york city took advantage of one of those exceptions. one of those exceptions is the basis of the lawsuits that the dealer was knowingly making any illegal sales. so, as mayor bloomberg alluded to this morning in his opening presentation, new york city used crime gun trace data to identify a bunch of dealers that were disproportionately supply and the guns that ultimately got picked up from criminals in new york city today engaged in the undercover investigations of those dealers. 27 of them were caught making i
the kind of immunity that essentially no other product manufacturer in the united states enjoys. they didn't provide people that were harmed with any kind of alternative compensation scheme and they even said that there but retroactively applied to the pending lawsuits that had to be dismissed and in fact they were and as a result the public health function of lawsuits and litigation in general, something that steve taught us about for many years was eroded. there were some relatively narrow...
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Jan 28, 2013
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we have to stay united. we have to show that if given the chance we can govern, that we have better ideas. you know, the fact is we are not in the wilderness. republicans control both the house and most of the statehouses. so we have to oppose the president in the senate on some fronts, and we have to engage him on others. because we can't let our country have a debt rye sis. -- crisis. and if they won't help fix our debt crisis, we have to buy time. we have to keep the bond markets at stake for the sake of our people. that means we'll face some tough moments. like the fiscal cliff. you know, i know we all didn't see eye to eye on that vote. here's how i saw it. on january 1 the senate voted overwhelmingly to prevent tax hikes on 98% of americans. it made the lower tax rates permanent. that's something we couldn't achieve when george bush was in office. and president obama got less revenue than the speaker offered in the first place. in short, there was no way we were going to get a better deal for the ameri
we have to stay united. we have to show that if given the chance we can govern, that we have better ideas. you know, the fact is we are not in the wilderness. republicans control both the house and most of the statehouses. so we have to oppose the president in the senate on some fronts, and we have to engage him on others. because we can't let our country have a debt rye sis. -- crisis. and if they won't help fix our debt crisis, we have to buy time. we have to keep the bond markets at stake...
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Jan 22, 2013
01/13
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when you look at the unite and you compare it to -- the united states and compare it to, say, the united kingdom, we do not have lots more assaults, lots more robberies than places like the united kingdom. is place where we're really different is with respect to our homicide rate. it's just the homicide rate that makes us different, and almost all the difference between the united states and united kingdom, almost all of it is driven by gun homicides. so i think, you know, i am not very enthusiastic about letting my 8-year-old daughter watching violent video games, but i think the gun piece of this really is, to me, the most important thing that makes us so different from other industrialized countries. >> the point i would make with respect to that is that there is a big difference between homicide here and homicide abroad that you don't see in other crime categories. there is also a great deal of variation in homicide among the 50 states that seem to bear no relation at all to gun laws or the prevalence of guns. and, i mean, vermont has probably the loosest gun raws in the country -- l
when you look at the unite and you compare it to -- the united states and compare it to, say, the united kingdom, we do not have lots more assaults, lots more robberies than places like the united kingdom. is place where we're really different is with respect to our homicide rate. it's just the homicide rate that makes us different, and almost all the difference between the united states and united kingdom, almost all of it is driven by gun homicides. so i think, you know, i am not very...
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Jan 4, 2013
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the passion of human beings in society such as the united states had believed to be domesticated. the no longer pretend to be tyrannical or otherwise undermine the order. hence wilson thought the state emancipated from the founders static constitution should be coming and i quote him, had instrumentalities for quickening in every suitable way. of collective and individual development. well, who was to determine what these might be suitable? the answer might be the government itself. wilson was as progressives tended to be a historic assist. that is someone with a strong sense of history he thought had its own unfolding logic, its autonomous trajectory, its proper destination. was the duty of leaders to discern the destination towards progressing and to make government the unfettered of the process, progressives tend to exalt the role of farsighted leaders and the role of the american president. this too put them at odds with the founders. the words leader and leaders of here just 13 times in all of the federalist papers. once as a reference to those that led the revolution. the ot
the passion of human beings in society such as the united states had believed to be domesticated. the no longer pretend to be tyrannical or otherwise undermine the order. hence wilson thought the state emancipated from the founders static constitution should be coming and i quote him, had instrumentalities for quickening in every suitable way. of collective and individual development. well, who was to determine what these might be suitable? the answer might be the government itself. wilson was...
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Jan 22, 2013
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welcome to the united states senate. over the christmas holidays much of our nation was foikdz on what congress would do to avoid the so-called fiscal cliff. what was large-missing from that conversation was how to address the much greater and more damaging problem, our growing national debt. i'm not exactly sure what the definition of fiscal cliff was. i think it is different meanings to different people. we dealt with a portion of the fiscal cliff. a slight delay in skwaeurgs and the consequences -- sequestration and the bush tax cuts expiring on december 31. but the problem, the serious problem is our national debt. last year's budget shortfall reached $1.1 trillion, the fourth straight year of trillion-dollar deficit spending. this out-of-control government spending increased our national debt to a record $16 trillion, which is more than the entire u.s. economy produced in goods and services in the entire year of 2012. last week secretary geithner notified congress that government will reach its borrowing limit as so
welcome to the united states senate. over the christmas holidays much of our nation was foikdz on what congress would do to avoid the so-called fiscal cliff. what was large-missing from that conversation was how to address the much greater and more damaging problem, our growing national debt. i'm not exactly sure what the definition of fiscal cliff was. i think it is different meanings to different people. we dealt with a portion of the fiscal cliff. a slight delay in skwaeurgs and the...
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Jan 2, 2013
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of the united states senate. but i know that every single day that harry serves in public life, michael callahan is in his heart. mr. president, i listened this morning to some of the analysts talking about what just happened, this historic vote yesterday in the united states senate. some of them this morning who know little about what really happens here were diminishing the role played by harry reid. i can tell you that on the day leading up to the vote, the last day, december 31, i spent probably the better part of 16 hours in harry's office as the negotiations went back and forth. there were three parties to that negotiation: senator mcconnell, the president of the united states, and harry reid. there wasn't a minute that passed that e-mails weren't being transferred back and forth to put together the coalition that passed this historic measure and avoided the economic disaster that otherwise would have occurred. it wasn't the first time that i've seen harry in that position. behind closed doors without a lot
of the united states senate. but i know that every single day that harry serves in public life, michael callahan is in his heart. mr. president, i listened this morning to some of the analysts talking about what just happened, this historic vote yesterday in the united states senate. some of them this morning who know little about what really happens here were diminishing the role played by harry reid. i can tell you that on the day leading up to the vote, the last day, december 31, i spent...
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Jan 31, 2013
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senator hagel agreed publicly that the united states is a bully. i assume that our reliance on unilateral sanctions when necessary may tp*eut his definition -- may fit his definition of bully. i cannot possibly agree. a third track of a comprehensive approach to this crucial problem is open discussion of an early preparation for military options. it has become increasingly clear over the past several years that diplomacy and sanctions alone are too weak to compel iranian compliance with the international community's demands. a frank discussion of military options and preparations give credibility to the rest of our strategy. no one should suppose that these steps mean anything other than preparing the ground for the logical necessary access to measures of last resort. at the bipartisan policy center, i participated in an exhaustive analysis of all the means and consequences of potential military action against iran's nuclear weapons program. there were no war advocates among us. nevertheless, if it is true that a nuclear weapons-capable iran is una
senator hagel agreed publicly that the united states is a bully. i assume that our reliance on unilateral sanctions when necessary may tp*eut his definition -- may fit his definition of bully. i cannot possibly agree. a third track of a comprehensive approach to this crucial problem is open discussion of an early preparation for military options. it has become increasingly clear over the past several years that diplomacy and sanctions alone are too weak to compel iranian compliance with the...
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Jan 31, 2013
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>> as you know, the united states continues in afghanistan. we are winding down and the president has made clear his policy. as we have done that and as we continue to do that, we continue to assist afghanistan in the building i've been training at the afghan national security forces. that's the right policy. in the end, there has to be both reconciliation in the turbine afghanistan, but there have to be afghan forces that are in can be responsible for security. the process to afghan security forces is arty underway and will continue as american forces drawdown. sorry, zach. >> two questions. first on the sequestered. does the president believed that the past march 1st at night would be kind of a mortal economic blow like the fiscal cliff in debt limit? is there more room at the deadline to come up with the proposal for how to do so, but is there room to manage, unlike the fiscal cliff in the debt limit? >> well, i think all of us here would hesitate to rank terrible things in order of their terribleness. so the fact is we shouldn't get to tha
>> as you know, the united states continues in afghanistan. we are winding down and the president has made clear his policy. as we have done that and as we continue to do that, we continue to assist afghanistan in the building i've been training at the afghan national security forces. that's the right policy. in the end, there has to be both reconciliation in the turbine afghanistan, but there have to be afghan forces that are in can be responsible for security. the process to afghan...
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Jan 24, 2013
01/13
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take the issue of the future of our united kingdom. many people say to me well, obviously you just have to ignore what is happening in scotland, and the fact that i said no. if the scottish people have voted for an s. as mp government the west mr. barletta should be constructed. we should trust the people, given that choice. that is why there will be a referendum on whether scotland states and the united kingdom, and i passionately believe that it showed and i hope that it will. and i think it's the same in some ways on this issue. you can put your head in the sand, you can pretend that some of this issue will go away, and that somehow if this will turn out all right. i think that is simply incredible. there's a huge debate underway about britain's place in europe. there's massive change coming in terms of the european union and single currency. the right answer, the bold patch, the answer international interest is to get out there, shake the debate, when for britain, put it to the british people and secure our economic or political fu
take the issue of the future of our united kingdom. many people say to me well, obviously you just have to ignore what is happening in scotland, and the fact that i said no. if the scottish people have voted for an s. as mp government the west mr. barletta should be constructed. we should trust the people, given that choice. that is why there will be a referendum on whether scotland states and the united kingdom, and i passionately believe that it showed and i hope that it will. and i think...
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Jan 14, 2013
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who died a firearm death lived in the united states. there is no evidence that our children are more careless, that they're more suicidal or that they're more violent. but they are dying by gunfire. why? i'm going to first talk about the relationship between homicide and firearms. the first thing to get out of the way from the start is that we are not a more violent nation than other high income nations. we are not a more violent society. we don't fight more in school, and we do not commit more violent crimes. it's a mistake to conflate lethal violence with overall violence. the next slide is meant to demonstrate that. if you look at the rates of violet crimes in the -- violent crimes in the united states and compare them to other industrialized high income countries, what you see is our rates of car theft, of burglary, of robbery, of sexual assault and of all violent crimes falls right in the middle. there are other studies that look at whether kids in the united states are more likely to get into serious fights at school. they're not.
who died a firearm death lived in the united states. there is no evidence that our children are more careless, that they're more suicidal or that they're more violent. but they are dying by gunfire. why? i'm going to first talk about the relationship between homicide and firearms. the first thing to get out of the way from the start is that we are not a more violent nation than other high income nations. we are not a more violent society. we don't fight more in school, and we do not commit more...
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Jan 14, 2013
01/13
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congressman thompson was first elected to the united states congress in 1998. mike serves on the subcommittee on health and subcommittee on select revenue measures within the committee on ways and means as well as being the ranking member of the subcommittee on terrorism, human intelligence analysis and counterintelligence and the subcommittee on oversight all within the permanent select committee on intelligence. congressman thompson is a combat veteran. he was a staff sergeant platoon leader in vietnam with the 173rd airborne of the united states army. he's also a purple heart recipient. mike has a reputation for problem solving, for reaching across the aisle. he has been a great asset for the county of sonoma, and we thank him very much. mike is also a gun owner and an avid hunter, i understand, and i can think of no one who is better suited to serve as chair of the prevention task force. congressman, thank you very much for all your work and welcome. [applause] >> mr. chairman, thank you. thank you very much, and thank you all for coming out tonight. this i
congressman thompson was first elected to the united states congress in 1998. mike serves on the subcommittee on health and subcommittee on select revenue measures within the committee on ways and means as well as being the ranking member of the subcommittee on terrorism, human intelligence analysis and counterintelligence and the subcommittee on oversight all within the permanent select committee on intelligence. congressman thompson is a combat veteran. he was a staff sergeant platoon leader...
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Jan 4, 2013
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he later represented the united states and u.s. ambassador to the united nations, and serve as a special envoy to sudan. he has been a great friend to missouri, to st. louis, and the washington university. please join me in welcoming him now. [applause] >> thank you. thank you very much. in making this introduction, i all our speaker an apology. and we need the apology, you are going to conclude that you haven't already, that i am a really terrible human being. i am the kind of person who takes advantage of a friend, especially when the friend is vulnerable. and then when he's vulnerable, i pounce. tonight's origin was a rehearsal dinner the night before the wedding of victoria will, george his only daughter, and the apple of his i. george was standing on the edge of the hotel ballroom, taking in one of life's great moments. married to the daughter was so deeply emotional. and george, the loving father was clearly caught up in the moment. and that was the moment that i seized the opportunity -- [laughter] -- to strike. i sidled up
he later represented the united states and u.s. ambassador to the united nations, and serve as a special envoy to sudan. he has been a great friend to missouri, to st. louis, and the washington university. please join me in welcoming him now. [applause] >> thank you. thank you very much. in making this introduction, i all our speaker an apology. and we need the apology, you are going to conclude that you haven't already, that i am a really terrible human being. i am the kind of person who...
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Jan 3, 2013
01/13
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but, frankly, the conservative party is united on europe. we are all opposed to this increase in the budget, and we would like to strengthen -- [inaudible] do i support? absolutely. >> here, here. >> if the prime minister achieves a freeze in the european union budget, he will have done something that no other prime minister has managed to achieve. and all -- no, i'm not going to go away. all that's happening on these benches is whenever the prime minister says he's going to achieve something, there are those that are somewhat self-endull gent seeking to -- indull gent seeking to set an even higher hurdle, no, no, seeking to set an even higher hurdle for him to jump over. it is unreasonable, and it is unfair. and if this party hopes to be in government after the next general election, it has just got to get a grip and start supporting the prime minister. >> but despite that impassioned plea when it came to the vote, the government was defeated by 13. david cameron, meanwhile, is to make a speech in the middle of january. well, i'm pleased to
but, frankly, the conservative party is united on europe. we are all opposed to this increase in the budget, and we would like to strengthen -- [inaudible] do i support? absolutely. >> here, here. >> if the prime minister achieves a freeze in the european union budget, he will have done something that no other prime minister has managed to achieve. and all -- no, i'm not going to go away. all that's happening on these benches is whenever the prime minister says he's going to achieve...
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Jan 3, 2013
01/13
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this is the vice president of the united states. >> how old are you? [inaudible] >> and how old are you, 17? >> eleven spent what's your name? >> griffin. >> come on back, let's get a picture. stand right in front. >> thank you very much. >> thank you so much. i don't want a handshake mom. i winner, too. that's what i want another one. raise your right hand, please. do you solemnly swear or affirm that you will support and defend the constitution of the united states against all enemies, foreign and domestic; that you will bear the true faith and allegiance to the same; that you take this obligation freely, without any mental reservation or purpose of evasion; and that you will well and faithfully discharge the duties of the office on which you are about to enter, so help you god? >> i do. >> congratulations. good for us. >> good to see you again. >> mom, take care of her, will you? all right. >> ann grier. >> thank you very much. >> are you going to hold the bible? hey, how are you? good to see you. how are you? welcome back. bob, would you raise your
this is the vice president of the united states. >> how old are you? [inaudible] >> and how old are you, 17? >> eleven spent what's your name? >> griffin. >> come on back, let's get a picture. stand right in front. >> thank you very much. >> thank you so much. i don't want a handshake mom. i winner, too. that's what i want another one. raise your right hand, please. do you solemnly swear or affirm that you will support and defend the constitution of the...
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Jan 10, 2013
01/13
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this is the united states government's view. this is with respect to the portion of the bonds they own. the discussion of why they own any of the bonds at all, but they do on some of those bonds, and under their disclosure rules, they tell us what they think about the underlying mortgages. these are the numbers you want to look at. fannie mae says there's $28 billion on their balance, exposure to mortgages, in this sector. they expect a 50% default rate. this is not what's before. this is going forward on existing holding. 50% default rate, and when it defaults and goes to foreclosure, they expect a 66% loss under that mortgage. half the mortgage, two-thirds of the prince. written down. fannie mae believes there's ruchely two and a quarter million more foreclosures coming just in the pls sector. in the frame, focus on these mortgages, and, by the way, we think that fannie and freddie and the banks have other avenues, programs in hamp, all the programs you talked about for reform and for helping these homeowners, most of those pr
this is the united states government's view. this is with respect to the portion of the bonds they own. the discussion of why they own any of the bonds at all, but they do on some of those bonds, and under their disclosure rules, they tell us what they think about the underlying mortgages. these are the numbers you want to look at. fannie mae says there's $28 billion on their balance, exposure to mortgages, in this sector. they expect a 50% default rate. this is not what's before. this is going...
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Jan 30, 2013
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five times massachusetts has voted to send me to the united states senate. yesterday nearly three decades after the people of massachusetts first voted me into this office, the people i work with in the senate voted me out of it. as always, i accept the senate's sound judgment. eight years ago i admit that i had a very different plan, slightly different anyway, to leave the senate but 61 million americans voted that they wanted me to stay here with you. and so staying here i learned about humility and i learned that sometimes the greatest lesson in life comes not from victory but from dusting yourself off after a defeat and starting over when you get knocked down. i was reminded throughout this journey that something that's often said but not always fully appreciated -- all of us senators are only as good as our staff, a staff that gives up their late nights and weekends, postpones vacations, doesn't get home in time to tuck children into bed. all of those lost moments because they're here helping us serve. they're not elected, they didn't get into public li
five times massachusetts has voted to send me to the united states senate. yesterday nearly three decades after the people of massachusetts first voted me into this office, the people i work with in the senate voted me out of it. as always, i accept the senate's sound judgment. eight years ago i admit that i had a very different plan, slightly different anyway, to leave the senate but 61 million americans voted that they wanted me to stay here with you. and so staying here i learned about...
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Jan 23, 2013
01/13
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, legally in the united states. those with good ideas, with capital and the willingness to hire americans would be able to stay in the united states and grow their businesses. in many instances foreign-borne entrepreneurs here legally have an idea and want to begin a company that will employ americans but are told their visa does not allow them to remain in the united states. take the story of assaf derish, born in israel and came to the united states in 2007 after being awarded a fulbright scholarship to study at the university of california. after completing his doctoral thesis, he founded a software company called reg pack. assaf raised $1.5 million in financing for the company and hired more than a dozen americans. his company has the potential to grow quickly and to further create additional jobs. but assaf found the founder of this dynamic company is no longer in the united states. we contacted him. my staff contacted him this morning, and he said that because of the difficulty in obtaining a visa and the amou
, legally in the united states. those with good ideas, with capital and the willingness to hire americans would be able to stay in the united states and grow their businesses. in many instances foreign-borne entrepreneurs here legally have an idea and want to begin a company that will employ americans but are told their visa does not allow them to remain in the united states. take the story of assaf derish, born in israel and came to the united states in 2007 after being awarded a fulbright...